Fund Description

The fund was incepted in May 1993 and is managed by Fred Alger Management. The objective of this fund is to seek long-term capital appreciation by investing in mid-size companies with promising growth potential. The fund invests primarily in equity securities of companies having a market capitalization within the range of companies in the Russell MidCap Growth Index. Stocks of medium sized companies are subject to greater risk than stocks of larger, more established companies, owing to such factors as inexperienced management and limited financial resources. The fund offers dividends and capital gains annually in December.